22NW updates 5.6% stake in L.B. Foster

22NW Fund and related parties have updated their ownership disclosure in L.B.

Rhea-AI Filing Summary

22NW Fund and related parties have updated their ownership disclosure in L.B. Foster Company. They report 22NW Fund directly beneficially owns 588,674 shares of common stock, representing about 5.6% of 10,458,591 shares outstanding as of March 19, 2026.

Through its roles as investment manager and general partner entities, 22NW and its affiliates may be deemed to beneficially own the same 588,674 shares. Portfolio Manager Aron R. English may be deemed to beneficially own 589,579 shares in total, also about 5.6% of the company, while he and Bryson O. Hirai‑Hadley each hold small personal positions.

Key Figures

22NW Fund shares: 588,674 shares Outstanding shares: 10,458,591 shares 22NW Fund purchase price: $6,828,618 +4 more

7 metrics

22NW Fund shares 588,674 shares Beneficially owned by 22NW Fund, about 5.6% of class

Outstanding shares 10,458,591 shares L.B. Foster common stock outstanding as of March 19, 2026

22NW Fund purchase price $6,828,618 Aggregate purchase price for 588,674 shares, excluding commissions

English aggregate holdings 589,579 shares Shares he may be deemed to beneficially own, about 5.6%

English direct purchase $10,000 Approximate aggregate price for 905 shares directly owned

Hirai‑Hadley direct purchase $15,195 Approximate aggregate price for 991 shares directly owned

Hirai‑Hadley holdings 991 shares Directly beneficially owned, about 0.01% of shares

Key Terms

beneficially own, Schedule 13D, working capital, margin loans, +1 more

5 terms

beneficially own financial

"22NW, as the investment manager of 22NW Fund, may be deemed to beneficially own the 588,674 Shares"

Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.

Schedule 13D regulatory

"If the filing person has previously filed a statement on Schedule 13G to report the acquisition"

A Schedule 13D is a legal document that investors file with regulators when they buy a large enough stake in a company to potentially influence its management or decisions. It provides details about the investor’s intention, ownership stake, and plans, helping other investors understand who is gaining control and what their motives might be.

working capital financial

"The Shares purchased by 22NW Fund were purchased with working capital"

Working capital is the money a business has available to cover its daily expenses, like paying bills and buying supplies. It’s like the cash in your wallet that helps you handle everyday costs; having enough ensures the business can operate smoothly without running into money shortages.

margin loans financial

"may, at any given time, include margin loans made by brokerage firms in the ordinary course of business"

Margin loans are loans from a brokerage that let an investor borrow money using their existing stocks, bonds or cash as collateral to buy more securities. They matter because borrowing magnifies both gains and losses—like using a lever to move a heavier load—so small market moves can have outsized effects on your returns; investors also pay interest and risk a margin call, where the broker may force sales if collateral falls below required levels.

open market financial

"All of such transactions were effected in the open market unless otherwise noted therein"

An open market is a system where buying and selling of goods, services, or financial assets happen freely without restrictions or special controls. For investors, it means they can trade assets easily and quickly, which helps determine fair prices based on supply and demand. This environment encourages transparency and competition, making it easier to buy or sell with confidence.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What ownership stake in FSTR does 22NW Fund report on this Schedule 13D/A?

22NW Fund reports beneficial ownership of 588,674 L.B. Foster (FSTR) shares, representing about 5.6% of the company’s common stock. This percentage is based on 10,458,591 shares outstanding as of March 19, 2026, as disclosed in the issuer’s proxy statement.

How many L.B. Foster (FSTR) shares does Aron R. English beneficially own?

Aron R. English may be deemed to beneficially own 589,579 L.B. Foster shares, or about 5.6% of shares outstanding. This total includes 588,674 shares held by 22NW Fund plus 905 shares he owns directly, as described in the amended ownership disclosure.

What is the total number of L.B. Foster (FSTR) shares outstanding used in this filing?

The filing bases ownership percentages on 10,458,591 L.B. Foster common shares outstanding as of March 19, 2026. This share count comes from the company’s proxy statement on Schedule 14A, which the reporting persons reference for their percentage calculations.

How much did 22NW Fund pay in total for its L.B. Foster (FSTR) position?

22NW Fund states it paid an aggregate purchase price of approximately $6,828,618 for 588,674 L.B. Foster shares, excluding brokerage commissions. The shares were acquired using working capital, which may at times include margin loans from brokerage firms in the ordinary course of business.

What personal L.B. Foster (FSTR) holdings do Aron R. English and Bryson O. Hirai‑Hadley report?

Aron R. English directly owns 905 L.B. Foster shares, purchased for about $10,000, while Bryson O. Hirai‑Hadley directly owns 991 shares, purchased for about $15,195. Both used personal funds, which may include margin loans from brokerage firms in the ordinary course of business.

How is 22NW’s structure related to its L.B. Foster (FSTR) share ownership?

22NW acts as investment manager to 22NW Fund, while 22NW Fund GP and 22NW Inc. serve as general partners to the fund and manager. Because of these roles, each entity may be deemed to beneficially own the 588,674 L.B. Foster shares held by 22NW Fund.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 04/14/2026 - 06:01 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 6)

FOSTER L B CO

(Name of Issuer)

Common Stock, par value $0.01 per share

(Title of Class of Securities)

350060109

(CUSIP Number)

ARON R. ENGLISH
22NW, LP, 590 1st Ave. S, Unit C1
Seattle, WA, 98104
206-227-3078

RYAN NEBEL
OLSHAN FROME WOLOSKY LLP, 1325 Avenue of the Americas
New York, NY, 10019
212-451-2300

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

04/09/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

schemaVersion:

SCHEDULE 13D

CUSIP Number(s): 350060109

1

Name of reporting person

22NW Fund, LP

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 588,674.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 588,674.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

588,674.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

5.6 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP Number(s): 350060109

1

Name of reporting person

22NW, LP

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 588,674.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 588,674.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

588,674.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

5.6 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP Number(s): 350060109

1

Name of reporting person

22NW Fund GP, LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 588,674.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 588,674.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

588,674.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

5.6 %

14

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13D

CUSIP Number(s): 350060109

1

Name of reporting person

22NW GP, Inc.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 588,674.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 588,674.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

588,674.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

5.6 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

CUSIP Number(s): 350060109

1

Name of reporting person

English Aron R.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF, OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 589,579.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 589,579.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

589,579.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

5.6 %

14

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13D

CUSIP Number(s): 350060109

1

Name of reporting person

Hirai-Hadley Bryson

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 991.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 991.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

991.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.01 %

14

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock, par value $0.01 per share
(b)	Name of Issuer: FOSTER L B CO
(c)	Address of Issuer's Principal Executive Offices: 415 HOLIDAY DR, PITTSBURGH, PENNSYLVANIA , 15220.
Item 3.	Source and Amount of Funds or Other Consideration
	Item 3 is hereby amended and restated to read as follows: The Shares purchased by 22NW Fund were purchased with working capital (which may, at any given time, include margin loans made by brokerage firms in the ordinary course of business). The aggregate purchase price of the 588,674 Shares beneficially owned by 22NW Fund is approximately $6,828,618, excluding brokerage commissions. The Shares directly owned by Mr. English were purchased with personal funds (which may, at any given time, include margin loans made by brokerage firms in the ordinary course of business). The aggregate purchase price of the 905 Shares directly owned by Mr. English is approximately $10,000, excluding brokerage commissions. The Shares directly owned by Mr. Hirai-Hadley were purchased with personal funds (which may, at any given time, include margin loans made by brokerage firms in the ordinary course of business). The aggregate purchase price of the 991 Shares directly owned by Mr. Hirai-Hadley is approximately $15,195, excluding brokerage commissions.
Item 5.	Interest in Securities of the Issuer
(a)	Item 5(a) is hereby amended and restated to read as follows: The aggregate percentage of Shares reported owned by each person named herein is based upon 10,458,591 Shares outstanding as of March 19, 2026, which is the total number of Shares outstanding as reported in the Issuer's proxy statement on Schedule 14A filed with the Securities and Exchange Commission on April 10, 2026. As of the date hereof, 22NW Fund directly beneficially owned 588,674 Shares, constituting approximately 5.6% of the Shares outstanding. As of the date hereof, Mr. English directly beneficially owned 905 Shares, constituting approximately 0.01% of the Shares outstanding. As of the date hereof, Mr. Hirai-Hadley directly beneficially owned 991 Shares, constituting approximately 0.01% of the Shares outstanding. 22NW, as the investment manager of 22NW Fund, may be deemed to beneficially own the 588,674 Shares owned by 22NW Fund, constituting approximately 5.6% of the Shares outstanding. 22NW GP, as the general partner of 22NW Fund, may be deemed to beneficially own the 588,674 Shares owned by 22NW Fund, constituting approximately 5.6% of the Shares outstanding. 22NW Inc., as the general partner of 22NW, may be deemed to beneficially own the 588,674 Shares owned by 22NW Fund, constituting approximately 5.6% of the Shares outstanding. Mr. English, as the Portfolio Manager of 22NW, Manager of 22NW GP and President and sole shareholder of 22NW Inc., may be deemed to beneficially own the 588,674 Shares owned by 22NW Fund, which, together with the Shares he directly beneficially owns, constitutes an aggregate of 589,579 Shares, constituting approximately 5.6% of the Shares outstanding.
(c)	Item 5(c) is hereby amended and restated to read as follows: The transactions in the Shares by the Reporting Persons since the filing of Amendment No. 5 to the Schedule 13D are set forth in Exhibit 1 and are incorporated herein by reference. All of such transactions were effected in the open market unless otherwise noted therein.
Item 7.	Material to be Filed as Exhibits.
	Item 7 is hereby amended to add the following exhibit: 1 - Transactions in Securities.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

22NW Fund, LP

Signature:	/s/ Aron R. English
Name/Title:	Aron R. English, Manager of 22NW Fund GP, LLC, General Partner
Date:	04/14/2026

22NW, LP

Signature:	/s/ Aron R. English
Name/Title:	Aron R. English, President and Sole Shareholder of 22NW GP, Inc., General Partner
Date:	04/14/2026

22NW Fund GP, LLC

Signature:	/s/ Aron R. English
Name/Title:	Aron R. English, Manager
Date:	04/14/2026

22NW GP, Inc.

Signature:	/s/ Aron R. English
Name/Title:	Aron R. English, Manager
Date:	04/14/2026

English Aron R.

Signature:	/s/ Aron R. English
Name/Title:	Aron R. English
Date:	04/14/2026

Hirai-Hadley Bryson

Signature:	/s/ Bryson O. Hirai-Hadley
Name/Title:	Bryson O. Hirai-Hadley
Date:	04/14/2026